Carter Buys 538 Acres for $18M

ORLANDO-Land banking for near-future developments, Orlando investor/developer Daryl M. Carter has purchased a total 538 acres in four counties for $18.17 million or an average $33.73 per acre (78 cents per sf). Carter bought the land as trustee for various Orlando-based trusts. The transactions were all-cash deals.

The most expensive tract was a 54-acre parcel in Orange County, purchased from Miranda Smith Bailey and Dosia Smith for $11.88 million or about $220,092 per acre ($5.05 per sf). The property is just south of Central Florida Parkway and fronts both Interstate 4 and Palm Parkway (Turkey Lake Road). Carter-Palm Parkway Land Trust was the buyer.

Bailey and Smith also sold a 75-acre parcel in Osceola County to Carter-Ralph Miller Road Land Trust for $600,000 or $8,000 per acre (18 cents per sf). The tract is east of Highway 15 (Narcoossee Road) and fronts the north and south sides of Ralph Miller Road.